r/AskAnAussieBroker

Previously I've just refinanced whenever there was a good deal and I was roughly 1% off what I thought a standard rate was for a new customer.

My house now is under a mortgage with a family guarantor.

I'm not at the point where I have enough equity to release them.

I'm concerned I'm an easy target for a bank to lazy tax (currently Westpac).

Is it hard to refinance in this situation and move to a different lender with another guarantor loan?

Hi,

I am currently rentvesting. Living in Sydney and investment in Perth. We bought in January 2024. Our current landlords have given us a notice of intent to sell in November this year. We are looking at all options including selling the investment property to help us purchase a PPOR in Sydney would be an option. We were not looking to sell this early, but thinking it may be a sign to sell to buy a PPOR. The timing had been horrible as our tenants have signed a new lease until September next year soon before we received notice.

My question is with the house being tenanted until next September, will this impact our ability to sell given the new tax changes?

Assuming they plan to buy within the next year or two.

Would you generally suggest putting it towards a bigger deposit, paying off existing debt, keeping it as extra savings or something else?

Not asking about lender policy or the mechanics of clawbacks.
I’m more curious about the human side of it.

Looking back, was there ever a moment where you thought:
“I should have seen this coming.”
Was it:
a change in communication?
less engagement?
a different tone?
a gut feeling you couldn’t explain?
Or was it genuinely impossible to predict?

Interested to hear from brokers who’ve been doing this for a while.

Hi everyone,

I’m 32M and fairly new to the Australian workforce, earning around $90k per year. I also have a small business overseas that brings in roughly AUD $60k per year, and I currently have around $100k in savings.

My wife is Australian but isn’t working at the moment. I’m currently waiting on my permanent residency application, so I won't qualify for a first-home buyer scheme.

I’d really appreciate some advice from people who have been in a similar situation or understand home lending.

Would I realistically qualify for a home loan based on my current income and savings? Would it make more sense to use a larger deposit, or potentially use a family member’s property as a guarantor? With my status what would my average monthly mortgage be?

I’m honestly unsure and confused about the smartest next step. I don’t own a home and would like to make a good decision with the savings I’ve built up rather than rushing into something.

Also, if anyone has worked with a good mortgage broker or adviser, especially someone experienced with overseas income and visa/PR situations, I’d really appreciate a recommendation.

Thanks in advance. I appreciate any advice or personal experiences you can share.

Hey all.. I am curious, has anyone been declined for a home loan (bank ignoring certain income type) and gone to another broker and been successful?

I assumed most brokers were the same.. but I have a feeling they might not be.

Please be kind. I’m a first home buyer who grew up in housing commission. Never thought I’d own a home.

Thanks!

As per the title - fiancee and I will be having our initial consultation with a mortgage broker within the next few weeks.

What documents / pieces of information should we pull together now to make the process as easy as possible?

Added Context:

Both debt free

Both full time salaried professionals

I have around 30k in an ETF portfolio

Partner recently received inheritance from parents for purpose of property purchase

Shared bank account for living expenses - separate personal accounts where we both get paid

I'm sure our broker will ask for this info in time, but would like to prep these docs before hand - thanks!!

We’re buying a family farm, the house is run down and we’ve out a ton of work to fix it up. Trying to get a mortgage approved and the same valuation company has been ordered 3 times by different banks, they seem it not liveable but don’t say why.

Hoping someone (preferably in NSW) can give us some advice.

My partner (26M) and I (24M) are looking to buy a unit together in the next couple of months around Ryde. We’ve been in a registered relationship for a couple of years. He’s currently on a Bridging Visa while waiting for his 820 Partner Visa, which could still take years (don’t get me started…).

I already own an investment property that I bought before we got together, so I’ve already used my first home stamp duty exemption.

Our current financial situation:
- My income: ~$80k/year (currently on workers comp but should be back at work before applying)
- Partner’s income: ~$65-70k/year (part time doing full
time hours)
-My investment property:
Worth: ~$650k
Mortgage: ~$349k
Rent: $680/week
Strata: ~$1,000/quarter
-Savings: ~$120k in my offset account (includes both of our savings)
-Car worth: ~$80k, fully paid off
-Credit cards: $32.5k total limit (happy to reduce to ~$10k) plus an Amex Platinum all in my name
-No other debts
-Living expenses: ~$1,000/month combined

A friend in the same visa situation got a loan through Macquarie. Both partners are on the loan, but only the Australian partner is on the title, allowing him to receive the first home stamp duty exemption and avoid foreign stamp duty.

My questions:
1. We understand we’ll have to pay stamp duty this time because I’ve already used my first home exemption. Could we put only my name on the title to avoid foreign stamp duty and so my partner can keep his first home stamp duty exemption for a future purchase? Are most lenders happy to have both of us on the loan but only me on the title (like my friend), or would it be better for my partner to just be my guarantor? If either option is possible, would he still be eligible for the first home stamp duty exemption when he later buys a third property in his own name after getting PR/citizenship (if his solo borrowing power is enough obviously), since either way (loan holder or guarantor) he wouldn’t be on the title for this property?

2. If my partner buys the 3rd property in the future but can’t borrow enough on his own, could I be a guarantor or be listed on the loan but not the title as I already used my exemption? Is this something most lenders allow even though I am already a citizen?

3. Based on our finances, would borrowing around $400k for a $500k property (20% deposit, so no LMI) be realistic?

We’re happy to use a mortgage broker and just wanted to get some opinions first. I used Mariana from Mortgage Choice last time, but I don’t think she services Ryde.

Thanks in advance!

Hey brokers, curious what you’ve all been seeing on the ground in the property market in the last month.

Have you seen things going for under asking price? Or valuations going short?

Seeing a lot in the news in the moment and would be curious to get an on the ground perspective.

Do you think it’s getting a bit easier for home buyers?

More the finance side of things. Would you save longer, borrow less, use a broker earlier, fix part of the loan, ask more questions ?

​

Ubank has resent the docs 5 times and i keep getting an error message "envelope void".

Anyone know what i can do? My broker is confused and keeps resending the link

Someone here mentioned sometime ago that some banks dont like lending for high rise CBD apartments because their value isnt guaranteed infinitely go up or something, and thus demand way above the 10% deposit, something like 30%.

I made a call to ubank, they said as an owner occupier, for a pre existing high rise apartment (I wont be buying new, too expensive/limited), they still work with the 10% deposit.

So what banks have that 30% rule specifically for high rise apartments so i know to avoid?

Very curious and looking for honest answers only. If you feel comfortable how Lo g have you been broking and what’s your monthly trail?

I have house which has no debt. My wife (aged 51) and me (aged 52) have good jobs and income. We want to borrow to fund deposits for our 3 kids but don’t want to give away our savings so would prefer to finance with a home loan. Is this possible if our house is repaid as all the products are homebuyers, refinancing or investment property products on the net?

I am male 27 currently in aus. Its been already 9 years i have been in australia. I have got my oermanent residency. Life went up n down. Went through divorced and deprssion due to which i needed money got credit card some personal loans which i couldnt pay on time credit card went on default. Loan upon loan. I cutrently have 300 credit score and defaul credit plus personal loan nearly 20k. I have casual job but well settled and i earn around like 12/1300 per week. I tried getting some loan to pay of my credit card and other personal loan due to which my credit rating went down. I seriously need genuine help on this matter i want to pay off all my debt and default credit card. I am trying my best. I just need genuine suggestion what i can do in this situation and what will be my next step. Thanks 🙏🙏

2 situations/concerns:

1. Do lenders consider income from jobs we already resigned from? I have an income statement from Job B which I worked for 5-6mos until I resigned due to health issues. Is this counted towards my overall income for FY 2025-2026?

2. Last FY our combined income was 203k. This year its only around 179k due to taking maternity leave (getting paid parental leave instead). I have since gone back to fulltime work for Job A since Feb 2026. It would be 199k if they consider Job A’s income. Will this affect our borrowing capacity? Will lenders add income from Job B?

Add-ons: 2 dependents, hub and I work fulltime, personal loan, no other debts. Savings around 80k.

Cheers!

My background is software engineer with AI implementation experience. If I want to be a mortgage broker which cert Iv course is best and cost effective between Kaplan, AAMC, entry Education?

Hi everybody. I hope this is okay to post here. I was just after some kind of general thoughts/advice on whether I would be able to qualify for the Help To Buy Scheme with a low income? I don't have anybody else to talk to about this and I find it all quite overwhelming so any insight is greatly appreciated!

My details:

-Taxable income is $38,850 per year.

-No debt other than HECS/HELP (approx. $16,000)

-My current rent is $300 per week and I can go an extra $100/$150 per week if need be.

-I can source the initial 2% deposit.

-My monthly expenses are very low. I don't have a car and I rarely travel (and only to other parts of Victoria). I'm pretty frugal haha.

-I am situated in Melbourne.

I would (obviously!) just be looking to get something very small, like a studio apartment. Hopefully in a nice area! I have been living in one for a long time now and it really suits me. So looking at maybe something for $300,000? Then I would hope to get maybe a $50,000 buffer for repairs/unexpected expenses etc (if you are allowed to do this). So maybe the loan amount would be like $350,000?

I am in no hurry or anything, I was just curious at this point as to whether this scheme may be an option in the future.

Thank you in advance for your help! Sorry if I have let out any crucial information.